Benzinga | Dec 14, 2021 02:42PM EST

Color Star Tech Forges MOU With Alibaba Cloud; Shares Pop

Entertainment technology company Color Star Technology Co Ltd (NASDAQ:CSCW) forged a memorandum of understanding (MOU) with Alibaba Group Holding Ltd (NYSE: BABA) Cloud.

* The two parties will be at China Pavilion, World Expo 2020 in Dubai, on December 25 - 26 to join hands and explore potential in-depth cooperation.

* In the future, Color Star will have further cooperation in technical fields like cloud computing and artificial intelligence.

* The World Expo is an international expo event with significant influence and a long history of over 100 years.

* Alibaba Cloud is the world's third-leading cloud computing Company and an official partner of the China Pavilion at the Dubai World Expo.

* Mr. Douglas, the spokesperson of Color Star, commented: "We are honored to cooperate with Alibaba Cloud. This will greatly help and improve the Company's next step in the technology sphere and technology creation such as metaverse."

* Related Content: Alibaba, Baidu Continue To Gain Cloud Market Share At The Cost Of Huawei, Tencent

* Price Action: CSCW shares traded higher by 2.51% at $0.47 in the market session on the last check Tuesday.